Andrews with us in Los Angeles hi Andrew how are you good how are you better than I deserve what's up my question is about my car lease payment it's around $3,200 a month and I'm trying to figure out if I should continue leasing my car or just pay them off and take the lock okay well my calculator Smart Money Magazine and many other financial experts say leasing a car is by far the most expensive way to operate a vehicle over the long term and so for the next 20 years how are you going to handle
the vehicle that you want to drive if you want to do what the typical millionaire does in order to become millionaire status then you would not least your car you would drive a two-year-old or older car and you would pay cash for it and so that if that is the conclusion then the answer to your question becomes pretty obvious and that is get rid of these leases $3,200 in car payments what are you it's our old dress code gasps oh my gosh what is your income dude phenomenal a month yeah a month yeah are you
are you pulling my leg no I started a digital marketing company and that's my pre-tax grant oh so you're making three million dollars a year almost four million dollars a year how old are you 24 that's just insane congratulations if that's the truth I'm very proud of you way to go well done and so here's the thing yeah you need to be driving that Rolls Royce that's a sweet ride and in your situation that's what you want I mean it's pocket change but hey check what is it for our grand yeah but my thing is
when I did the math I was like 58 out of the delivery but I guess you already know you you already lost the 58 thousand dude you're driving a four hundred thousand dollar car when you drove it off the lot you lost 58 grand yeah when at least I gave it back on the lease to what I could resell it for after that fourteen one term it's around a fifty six thousand dollar difference yeah but you that's the same thing as if you financed it and you're making for me yeah you're don't be financing cars
just yeah listen write a check and pay for the car and smile while you're driving it you've earned it gratulations I'm very proud of you if all that's the truth that's pretty bizarre stuff at 24 years old hey listen be real careful okay let me tell you what I tell the guys in the NFL when we're talking to them NFL stands for not for long and you're in the digital space and about the only thing we're sure about the digital space is whatever is cool today in 24 months isn't going to be cool so I
don't know that I hope this income is what you make for the rest of your life but I don't know that you're in a very volatile space so pretend like you're not going to be making this money for a long time and Bank a bunch of it invest a bunch of it set it aside because you don't want to be 34 and talk about the good old days when you were 24 making money you wanted though you want you know let's make you into a billionaire you're on your way if you keep making this kind
of money but pretend like you're not going to keep making it forever and for goodness sakes don't spend it all that'll be your your deal but can you afford a three or four hundred thousand dollar car that's a $4,000 car can you afford that making four million dollars here yes you can it blows my mind that you're 24 years old and you can but you can't and I'm very proud for you I'm very happy for you congratulations hey guys thanks for watching if you enjoyed this video click the subscribe button to get the latest content
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